ALBERT C. RITCHIE, GOVERNOR. 639

Maryland Railroad Refunding 3½% 1952 loan and Burnt Dis-
trict Improvement 3½% 1954 loan. The benefit of this section
shall not be allowed unless the officers making the return for
such corporation shall state under oath in said return that such
investments were held by such corporation at the time and
for the period above specified in its own right and not as
trustee, agent, or in any fiduciary capacity or as security for
a loan, or as collateral security for any payment or other pur-
pose. If any corporation subject to the provisions of this
section shall have two or more classes of stock outstanding, the
State Tax Commission shall apportion the value of the stock
debt of the City of Baltimore hereinabove mentioned held as
aforesaid by such corporation between the several classes of
stock according to what said Commission may find to be the
taxable value of each class, and shall apply the deduction
herein provided for to the shares, if any, of each class, taxable
in the City of Baltimore.

19. As soon as possible after assessing either (a) any
shares of stock in national banks located in this State or in do-
mestic corporations subject to assessment and taxation here-
under, or (b) any tangible personal property belonging to
domestic ordinary business corporations, or (c) any rolling
stock of railroads worked by steam, the State Tax Commission
shall apportion such assessments among the counties and/or
cities to which the taxes thereon shall be payable under this
Article, and shall certify such valuations and assessments to
the County Commissioners and county collector of each such
county and to the Appeal Tax Court or other appropriate tax-
ing authority of each such city, and, in the case of property
mentioned in clauses (a) or (b) of this section, to the Comp-
troller of this State, for collection and payment of the State
tax thereon to the State Treasurer.

20. For the purpose of the assessment and collection of
ordinary taxes on distilled spirits, it is hereby made the duty
of each distiller, and of every owner or proprietor of a bonded
or other warehouse, in which distilled spirits are stored and
of every person or corporation having custody of such spirits
to make report to the State Tax Commission on or before the
fifteenth day of March in each and every year of all the dis-
tilled spirits on hand as of the first day of January preceding;
and the tax for the ensuing year from the said first day of
January shall be levied and paid on the amount of distilled